CC SR 20160606 J - Cash Balances Apr2016CityRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 06/06/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the April 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
Receive and file the April 2016 Cash Balances/Monthly Treasurer's Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant"?i_
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager /",,�,—;
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer's Report (page A-1)
BACKGROUND AND DISCUSSION:
This report summarizes the cash balance of all funds, as well as investments, for the
month of April 2016. A separate report is prepared monthly for the Improvement
Authority, and is presented under separate cover before the Authority Commission.
The overall cash balances of the City totaled $66,353,967, with more than $53 million or
80% of the balance in the Local Agency Investment Fund (LAIF). The City has almost
$6.5 million or 10% of the total cash balance with Bank of the West, and over $6 million
with Malaga Bank. The City diversified the investment portfolio by purchasing 3 new
Certificates of Deposit (CDs) for a total of $750,000. The securities are held by the
Bank of New York and are FDIC -insured.
In summary, the City General Fund is over $14 million or 21 % of the total cash balance,
and Capital Improvement Projects (CIP) are over $28 million or 42% of the total cash
balance. The increase of over $1 million in the CIP Fund is due to an Interfund Transfer
from the General Fund in accordance with Council Reserve Policy. Overall, the City
cash balance increased by $2.5 million from last month, but in comparison to the same
period last year, the cash balance increased by $1 million. The major variances as
compared to last year are disbursements in the General Find due to timing of the
1
disbursements, and the fact that the monthly Highway Tax Apportionment was not
received until May.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2016
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
of the West
OPERATING
Malaga
Bank
OPERATING
PETTY CASH LAIF-CITY _
INVESTMENT
CDARS
INVESTMENT
CD
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
4,803,63596
3,609,83207
3,000.00 53,035,726.98
2,200,00000
0.00
63.852.195 01
4,08996
PLUS: DEPOSITS
4,669,437 46
4,669,437.46
PLUS: INTEREST EARNINGS(1)
3,17131
59,444.50
62,615.81
193,193.90
LESS: CHECK DISBURSEMENTS
(1,697,00509)
(1,697,00509)
LESS: ELECTRONIC DISBURSEMENTS(2)
(536,862.30)
(538,662 30)
ADJUSTMENTS(3)
5,58637
5,58637
PLUS: TRANSFERS IN
750,000 00
750,000.00
LESS: TRANSFERS OUT
(750,000:130)
(750,000.00)
ENDING BALANCE
6,492,79240
3,613.003.36
3.000.00 53.095,171.48
2,200,000.00
'r50.00000
66,353,967.26
193,193.90
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
416,955 94
CalPers
72,043.05
ICMA&HSA
28,961.78
Retirement Health Savings Withholdings
10,454.47
Sales Taxes
3,063.00
Flexible Spending Accounts
774.10
Postage
2,500.00
Bank and Merchant Fees
4,08996
538,862 30
(3) The net adjustment was due to void checks and other deposit adjustment,
APRIL 2016 CASH BALANCE BY MAJOR FUNDS
GENERALFUND
CIP
- EQUIPMENT REPLACEMENT
,e 1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
OTHER RESTRICTED FUNDS
A-1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARn nFRIT r:RFnIT CAiiN R.I.- RA,..,fti_F, A
Unrestricted
GENERALFUND
14.212,406.31
3,746,05514
3,848„300,76
14,110,160.69
(102,245.62)
1%
Restricted by Council Action
BEAUTIFICATION FUND
499.451.48
552.00
0.00
500,003.48
552,00
0%
CIP
26,208,328.58
2,238.445.52
380,510.93
28,066,263.17
1,857,934.59
7%
EQUIPMENT REPLACEMENT
3,148,71532
3,91426
47,637.36
3,104,992.16
(43,723.16)
1%
BUILDING REPLACEMENT
899.00
000
000
899.00
0.00
0%
EMPLOYEE BENEFITS
509,256.29
495,394 76
613,666.28
390.984,77
(118,271.52)
23%
Subtotal
30,366.650,67
2,738,306.48
1,041,814.57
32;063,142.58
1,696,491.91
6%
Restricted by Law or External Agencies
STREET MAINTENANCE
2,034,291.58
6.748.04
125,230.60
1,915,80902
(118,482.56)
6%
1972 ACT
50,438 10
62,886.70
0.00
113.324.80
62,886.70
100%
EL PRADO
24,177 48
68507
0.00
24,862.51
685.03
3%
CDBG
(50,244.41)
50,75592
137.977.31
(137,465.80)
(87.221,39)
100%
CDBG-R
000
000
0001
000
0,00
0%
1911 ACT
1,821,125.70
171,93896
26.85268
1,966,211.98
145,086,28
8%
SOLID WASTE
473,243 27
25,758 83
13,479 57
485,522 53
12.279.26
3%
AIR QUALITY MANAGEMENT
78,350 99
8800
000
78,438.99
88.00
0%
PROPOSITION C
279,782.67
39,990.02
000
319,772.69
39,990.02
14%
PROPOSITION A
204,170.75
47,947 82
000
252,116 57
47,947.82
23%
PUBLIC SAFETY GRANTS
66,720.06
11300
000
66.833 06
113.00
0%
MEASURER
1,515,572.33
31,03737
0,00
1,546,609.70
31,03737
2%
HABITAT RESTORATION
1,460,24621
1,792.00
0.00
1,462,038,21
1,792.00
0%
SUBREGION 1 MAINTENANCE
825.632 92
824.00
1,637.80
824,819.12
(813 80)
0%
!MEASURE A MAINTENANCE
4,284.89
68.00 1
0.00
4,352,89
68.00
2%
,ABALONE COVE SEWER DISTRICT
87,705.14
8,50789
5,766.87
90,446,16
2,741.02
3%
!RPVTV
0,00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
_ 85.579,31
84.00
0.00
85,663.31
8400
0%
DONOR RESTRICTED CONTRIBUTIONS
534,254.91
342,053.00
0.00
876,307.91
342,053.00
64%
,QUIMBY
2,173,778.23
87,050.00
0.00
2.260.828.23
87,05000
4%
LOW -MODERATE INCOME HOUSING
54.226 12
51.00
0,00
54,277.12
51.00
0%
,AFFORDABLE HSNG IN LIEU
585,554.13
576.00
0,001
586,130.13
576,00
0%
EET
202,51572
322.00
0.001
202,83772
322,00
0%
MEASURE ACAPITAL
7,44011
0.00
0.00
7440.11
0.00
0%
BIKEWAYS
9652
_ 0.00
96.52
0.00
(96.52)
1007%
UNDERGROUND UTILITIES
0.00
0.00
0,00
000
0.00
0%
ROADWAY BEAUTIFICATION
000
0,00
0.00
0.00
0.00
0%
WATER QUALITY FLOOD PROTECTION
5,856,81162
330.214.53
67,50057
6,119,525,56
262,713.96
4%
REDEVELOPMENT OBLIGATION RETIRE
452,623 52
4,606.00
1,591 35
455,638 17
3,014.65
1
IMPROVEMENT DISTRICT 9
000
0.00
000
0.00
0.00
(0
SPECIAL TRUSTS
444,76016
93,64420
20,08308
518,32128
73,561.12
171/.
Subtotal
19.273,138,03
1,307,742,31
40Q216.35
20,180,6$3.99
907,525.96
5%
GRANDTOTAL
63,852.195.01
7,792,103.93
5,290,331.68
66,353,967.26
2,501.772.25
4%
Total Investment: 66,353,967 26
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2016
Investment
Issuer of
Investment
Acquisition
Date
Term
Maturity
Date
Market
Value
Par
Value
Book
Value
Yield
Bank of the
Checking Accounts
West
N/A
N/A
On Demand
$
6,492,792
N/A
$
6,492,792
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,813,003
N/A
$
3,813,003
025%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
0 00 %
State of
Local Agency Investment Fund (LAIF-CITY) California
N/A
N/A
On Demand
$
53,095,171
N/A
$
53,095,171
053%
CDARS - Malaga Bank
Malaga Bank
12/24/2015
26 weeks
6/23/2016
250,000
$
250,000
0 30 %
Banco Popular
de Puerto Rico -
IBC
12/24/2015
26 weeks
6/23/2016
244,500
$
244,500
0.15%
Iberiabank
12/24/2015
26 weeks
6/23/2016
216,500
$
216,500
015%
Univest Bank
and Trust Co
12/24/2015
26 weeks
6/23/2016
244,500
$
244,500
0 15 %
Western
Alliance Bank
12/24/2015
26 weeks
6/23/2016
$
244,500
$
244,500
0 15 %
Citizens
National Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
025%
Ever Bank
3/24/2016
52 weeks
3/23/2017
$
230,633
$
230,633
025%
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/23/2017
S
243,500
$
243,500
025%
Parke Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
0.25%
Porsperity Bank
3/24/2016
52 weeks
3/23/2017
11,867
$
11,867
0.25%
The Park
National Bank
3/24/2016
52 weeks
3/23/2017
$
27,000
$
27,000
025%
Citizens Sate
CD - Bank of New York
Bank
4/29/2016
18 Mas
10/30/2017
$
250,000
$
250,000
0 75 %
First Bank
Puerto Rico
4/29/2016
18 Mos
10/30/2016
$
250,000
$
250,000
0 80 %
MB Financial
Bank
4/29/2016
18 Mos
10/29/2016
$
250,000
$
250,000
100%
Totallnvosiment:
$ 66,353,967
Total Investment Weighted Average Return
00%
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported to vary from book value if the City calculated share of total LAIF assets is less than the
City book value
To the best of my knowledge, there are no misstatements of material amounts within this report
or omissions of material amounts to cause the report to be misleading
I certify that this report accurately reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthermore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months
Respectfully submitted,
'Treasut6r Dated
A-3
SUMMARY OF CASH BALANCE BY INSTITUTION
APRIL 2016
1%
Val
OPP
Bank of the West
Malaga Bank
State of California - LAIF
Malaga Bank - CDARS
Vining Sparks/Bank of New York - CD
MA